Ben Bernanke

Welcome To The Valium Era

"Nothing shocks this market... Nothing rocks it... Nothing socks it to it... Nothing does... that is, until something does."

Animal Spirits Are A Late-Stage Event

“While the temptations are great, and the pressures strong, illusions in numbers are only that - ephemeral, and ultimately self-destructive.

Central Banker's Real Legacy: Pension Funds Panic 'Reach' For Yield

In a desperate reach for yields they increased exposure to project finance. Perceived higher returns, long-term investment horizon and inflation protection made it the perfect match for pension funds. However, like their central banker peers, pension fund managers were completely mistaken. Actual risks were largely underestimated...

"The Western Status Quo Political System Is Collapsing Into 'Something Else'"

"...as the Western status quo political system collapses into Something Else, how is it possible that our capital markets are not similarly gripped by volatility and stress? What is responsible for breaking the transmission mechanism from political risk to market risk? I’ve got a macro answer and I’ve got a micro answer..."

Who's Really To Blame For America's Accelerating Home Prices?

Fed Chairs Ben Bernanke and Janet Yellen re-blew the Alan Greenspan initiated housing bubble. However, the trend towards higher and higher home prices started well before that dynamic trio made a mess of everything. The following charts show the true origin of escalating home prices...

There's No Painless Exit From The "Fake Faux Financialized" Economy

"The sanctioning of this deranged hypocrisy is shaping a generation that could easily turn into political monsters when they eventually come into power - and that coming-to-power may coincide with much more desperate economic conditions on the road ahead."

The Trump Collapse Scapegoat Narrative Has Now Been Launched

"I have been warning since long before the election that Trump’s presidency would be the perfect vehicle for central banks and international financiers to divert blame for the economic crisis that would inevitably explode once the Fed moved firmly into interest rate hikes. Every indication since my initial prediction shows that this is the case. The media was building the foundation of the narrative from the moment Trump won the election."

Trumpquake: Futures Wipe Out Month's Gains In One Session, VIX Spikes

Growing concerns over the turmoil engulfing President Donald Trump’s administration weighed on risk appetite, sending global stocks and US futures lower, pressuring the dollar while boosting yen, gold and VIX. The sharp drop has seen the gains over the past month wiped out in one session.